For the last 3 years Phillips 66 has been undergoing what Go Go calls Business Transformation. "Transformation" has basically consisted of laying off a few employees at a time once or twice a year and vague promise that things are going to improve in some future year.
The objective of this transformation was to unlock value in the stock price to bring it more in line with our 2 main peers. It has failed miserably at this goal, as of today our stock price is $30 dollars and $50 dollars lower than our 2 main peers stock price.
14 replies (most recent on top)
@b1 Elliot launched a proxy battle to sell midstream and use the profit to buy back shares to drive the stock price up.
Holy cr-p… this is seriously the people that I work with?? ::facepalm::
@fd 63 with all most 42 years
100% psx in your retirement. Did you have to work til 70?
@an Hi Se@n! Welcome our new head of IR to this chat as I know he frequents the layoff when he is not posting cringe posts about his undying love for one of our board members.
There are times that a company goes through a down swing that doesn’t mean it is a bad company!
PSX has a higher market cap (total amount of money invested) than Valero. However that money is divided by a greater amount of outstanding shares. That’s how share price is calculated making PSX stock price lower. The answer is aggressive share buybacks.
As for psx and other company’s, the company’s will take care of there stock holders. As for me my retirement was setup for 100% psx. There were people that thought I was wrong. But I did it anyway, now my money working for me and I’m no longer working for it.
Why are you guys even buying psx? That stuff is risky. Go buy something else if you want to get rich. Stick with psx if you like kissing up to the ELT. Cause the only way you will make money is climbing the Sgl ladder. But watch out when you step over my rung, cause I’m rattling your nuts like a sluicer heading up the coke drum at shift change.
I’m not saying that our stock should be the same price as VLO and MPC, just that there shouldn’t be a $30 and $50 differential. Maybe somewhere between VLO and MPC.
I guess Elliott launched a proxy battle because the stock was performing so well.
And, somebody is touchy touchy to resort to name calling.
No, dipsh!t. It isn't how it works. You are ignoring capital structure, share count, etc. If you want to say "our stock should have performed better," that is one argument that is defensible. But saying "Durr, why isn't the price the same as MPC and VLO???" is a level of economic ignorance that is laughable
According to experts, if we were doing things the right way, our stock price would be close to the 2 top performers in our peer group. It’s exactly the way stock prices work.
This has to be one of the most financially illiterate posts I've ever read. That isn't how stock price works...
Yes, the gap continues to expand as the market does not believe in the story. Proxy season cannot come soon enough.